City & Co Accountants & Tax Specialists

Can you claim coffee as an expense?☕️

1) If you are making a qualifying business journey coffee expenses can be claimed such as visiting a client or going to a temporary office or taking your team out to discuss business is also fully allowable.

3) If coffee is consumed during a business meeting its allowable under a strict criteria otherwise it is considered entertainment.

For help with claiming this or for further questions get in touch: https://cityandco.org.uk/contact-us/

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If your new to self employment you need to do the following:

1) Contact HMRC and complete a CWF1.

2) Setup a personal HMRC Login and a company HMRC login

2) Have a separate business Account, don't mix with your private account this will save you a lot of headaches later.

3) Keep a record of all expenses i.e. receipts and invoices to backup your claim.

4) If your turnover for Tax year 6th April 26 to 5th April 27 is more than £50,000 you need to register for making tax digital.

5) Making tax digital means you need to use software like xero, quickbooks, sage etc.

5) Put away 10% to 20% of sales for taxes so at least end of tax year there are no nasty surprises and cashflows to pay tax.

6) Any losses in your new business can be rolled back 3 years and claimed against total income.

If you need help with any of the above and more reach out: https://cityandco.org.uk/contact-us/

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Can I claim Workwear for My business?

Under UK tax law its depends on the type of clothing and circumstance.

1) Employees can claim cost of protective clothing or uniforms if used exclusively for work. This includes things like boots, overalls, gloves, helmets and eye protection.

3) Maintaining protective clothing is an allowable expense such as dry cleaning costs.

For help with this and more information, get in touch:

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